Yen the Best Performer in this week

As we all know that the yen is the currency of the Japan, a country which is famous for Electronic Items. Well the currency is now performing brilliantly in the World Currency Market. There has been a tremendous and instant growth in the Japanese economy.

There are two important reasons for the growth and they are:

• The economy grew to 4.8% in the fourth quarter, making it a fastest growth in almost 3 years.

• And in addition to that the Yen has headed for the biggest weekly gain against the U.S D, the Dollar.
  

This progress of the Japan has prompted the Bank of Japan to re-think on its interest rates and there evolved a speculation that the Bank of Japan will review its interest rates by raising in the next week. It is expected that the Central Bank will probably increase the key of lending rate to 0.5 percent from 0.25 per cent. The Yen has been the best performer in the Asia this week.

The yen traded at 119.35 from 119.27 against the dollar yesterday and it against the Euro, it traded to 156.76 from 156.74. The yen may climb to 119.00 against the dollar and 156.50 per Euro today.

My comments:

In my opinion, the yen which was weak though in the past week, has now recovered from its losses and is in good position now. And I think it will be in the same position in the coming days too.

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